Performance Prism

This refers to a strategic and performance management approach which focuses on the performance of the organisation and its stakeholders. The Performance Prism assesses five interrelated elements: stakeholder satisfaction. stakeholder contribution, organisational strategies, business processes and organisational capabilities for stakeholders such as investors, customers, employees, suppliers, regulators and members of the wider community. The Performance… Read more

Performance management

This is the systematic process by which the overall performance of an organisation is monitored and improved. Performance management systems include the establishment of corporate visions and goals, the setting or business and individual targets, measuring and reporting performance against those targets, reviewing performance and adjusting activities in the light of that review. Performance management… Read more

Performance planning

This is the structured approach to establishing business and individual targets, and the activities needed to achieve them. Performance planning typically involves both the manager and individual establishing commonly agreed targets and activities, in line with the corporate visions and goals. The plan may include personal training and development activities as well as business process… Read more

Competitive benchmarking

This refers to the process of benchmarking an organisation’s performance against competitors within its industry. Data for competitive benchmarking is typically brokered by an independent external third party who anonymises the data to protect commercial sensitivities. Competitive benchmarking is a term normally found in performance management and strategic management.